The United States has reached an agreement with Venezuela to "take over" its 65 billion barrels of oil reserves.

Some call this "21st-century piracy," and it may well go far beyond oil, affecting future generations of Venezuelans.

According to recent statements from U.S. officials, the American side—through a newly established joint venture with Alejandro Betancourt, who controls Venezuela’s second-largest private oil company, North American Blue Energy Partners—has been granted rights to develop 17 Venezuelan oil fields over a 100-year period. These fields contain approximately 65 billion barrels of proven reserves.

The United States will secure 55% of the effective production from this joint venture through equity ownership and guaranteed access at cost price.

The company “North American Blue Energy Partners” is partially controlled by oil tycoon Harry Sargeant III.

The financial ties between “North American Blue” and Sargeant III remain shrouded in suspicion. Sargeant III is a supporter of Trump and a major Republican donor who previously advised the White House on Venezuela’s oil policy. The glaring conflicts of interest and the opaque selection process for private participants are blatant examples of self-dealing.

According to the Venezuelan government, the arrangement could generate over $209 billion in tax revenue and attract around $100 billion in investment.

On the surface, this appears to be a win-win deal—but the details are too troubling to examine closely.

The U.S. guarantee of acquiring Venezuelan oil at cost price is essentially a repeat of Trump’s old tactics when he bought land in New York and Florida.

The difference lies in today’s context: using American national political and military power to secure preferential access to another nation’s resources.

The 100-year concession was granted by a non-elected Venezuelan government, a puppet regime coerced by the U.S. after Maduro’s ouster.

The interim president, Rodríguez, was warned that if she ignored U.S. demands, military attacks might follow.

She had ample reason to fear becoming the next target.

All of this was conducted behind closed doors, without any public tender process—proof enough of the extent of coercion.

Thus, this was a deal she could not refuse: a classic mafia-style maneuver.

Even if Venezuela stands to gain substantial tax revenues, the cost is surrendering real control over how its oil is extracted, granting the United States exclusive access—something unavailable in any ordinary competitive market.

If the process had been open to public bidding, other countries might have offered terms significantly more favorable than those demanded by the U.S., enabling full recovery of Venezuela’s oil industry.

But Trump’s uncompromising economic interventionism would never allow such a "what-if."

Now, all that remains on the table for discussion are investments, jobs, and tax revenues—while sovereignty and economic self-determination are excluded from negotiations.

Coercion replacing free trade, economic exploitation replacing sovereign equality, state-granted privileges replacing market competition.

If Venezuela eventually elects a democratic government, it will be forced to inherit this bitter outcome: a 100-year arrangement under which most of the country’s oil is sold to the U.S. at cost, rather than market value, effectively given away half-sold.

From now on, President Rodríguez may need to hire several extra security teams.

Original article: toutiao.com/article/1874914045622284/

Disclaimer: The views expressed in this article are solely those of the author.